Realistically speaking, this is just a start of a bear market. Here are some more charts to ponder.

S&P 500 Nears Bear Market

Dow Nears Bear Market

Nasdaq 100 Index in Bear Market

Russell 2000 in Bear Market

Apple Bear Market

Crude Bear Market

Nothing Magic

There is nothing magic about 20% declines. It’s simply the most widely used definition of a bear market.

Bear markets seldom stop at 20% then magically reverse.

Expect worse, much worse.

Mike “Mish” Shedlock